Oil now

The oil market almost completely restored yesterday’s losses after yesterday’s data on the US oil inventories, which showed growth. This was facilitated by the preservation of optimism in the US – China trade talks and the preservation of general optimism in the market.

Major oil brands are in no hurry to return to November highs while maintaining uncertainty. The movement of the oil market in the side channel may also indicate a slowdown in upward dynamics in early November.

Look Technical Analysis.

Brent crude oil is trading around $ 62.80, an increase of about + 1.20% in price.

WTI crude oil is trading at around $ 57.10, an increase of about + 1.40% in price.

Read also: “How Real is the currency intervention in the US”

Dani Leviant

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Topical articles of the trader’s blog:

1. The trade war risks are coming back
2. Upward dynamics of gold, resumption of growth or correction before the decline
3. Increased transportation costs: a driver for rising oil prices

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